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8 Things To Know About Power Of Attorney

February 29, 2024
February 29, 2024

Power Of Attorney

A power of attorney is a legal arrangement that grants the POA decision-making powers on behalf of another person they represent.

Revoking POA

The power of attorney holds significant powers, but their decisions can be revoked and challenged.

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POA Eligibility

The attorney is usually someone close to the principal, like a friend, who can execute the principal’s wishes and take tough decisions.

Revocation Certificate

A POA can be revoked through courts with a notarized revocation letter with the principal's signature.

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Conventional POA

A conventional POA makes financial decisions during the principal's absence, such as travelling abroad or facing a health issue.

Durable POA

A durable POA is an arrangement where the attorney can only be revoked after the principal’s death. POA will have the authority even in the principal's incapacitation.

Springing POA

This type of POA can be made only when the principal has a medical condition and works and lives in dangerous situations. 

Medical POA

This arrangement is strictly for medical decisions. The attorney can only represent the principal’s wishes on medical matters, such as choice of treatment or life care.

Compiled By Himani Verma

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